Devil's In The Details For OTC Reform Effort: Attys

Law360, New York (December 8, 2009, 3:04 PM EST) -- A bill to reform the over-the-counter derivatives market continues to move through the U.S. Congress, but securities attorneys say the effectiveness of the reform will depend on the resolution of several disputes over details — including who should control derivatives clearinghouses and how federal agencies should split regulatory responsibilities.

H.R. 3795, known as the Over-the-Counter Derivatives Markets Act of 2009, has passed both the Financial Services Committee and Agriculture Committee in the U.S. House of Representatives. Though there are some differences between the two committees' bills...
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